Federal Reserve cuts interest rates by another quarter point

Federal Reserve Chair Jerome H Powell said the US economy remains strong and unemployment is low, but that “there are risks to this positive outlook.” If the economy weakens, a “more extensive” series of rate cuts would be appropriate, he said. Written by Jeanna Smialek The Federal Reserve cut interest rates by a quarter of […]


Bangladesh’s bid to retrieve stolen money

In a complaint filed with the U.S. District Court in Manhattan, Bangladesh Bank says the Manila-based RCBC helped North Korean hackers steal $101 million from its account with New York Fed. After a long delay, Bangladesh sued a Philippine bank on January 31 to retrieve the funds stolen from its central bank in 2016 in […]